News
FIRE SALE; THE DEAL SHEET
April 28, 2010
| Finally, one of the deals we've been hearing about: a maturing loan that triggered a quick sale, in this case the 36k SF Village at Timarron. Cencor Realty Services' Randall Woodruff tells us that ownership couldn't refinance and wanted to avoid foreclosure. The quick deal closed in about 30 days, he says. | |||
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| The neighborhood/specialty center at the SE corner of Southlake Boulevard (FM 1709) and Byron Nelson Parkway in Southlake was appraised at $5.4M in 2004, according to city records (thanks, Google). Randy says the price (which, like the seller, wasn't disclosed) was right for the buyer because the owner didn't have a lot of time to go through an extended marketing process. Buyer is the Dallas-based limited partnership Timarron Venture, Ltd, assembled by Cencor. The Weitzman Group's JC Burciaga handled negotiations. The center will be leased by TWG's Michelle Caplan and Earl Harris and managed by Cencor Realty Services under the direction of Sandi Scott. | |||
